The title makes me laugh. It reminds me minute Abs or some of the Forex trading systems marketed on the web -- Insider teaches you that the secret to ensured success in just 15 minutes a day.
My intentions for this trading egy are to utilize tight stoplosses, take profits when the market tells me to, and possess a top win/loss ratio. Is win/loss ratio everything? No. Search the forum and make your mind . My journal is not the place. I will discuss how I handle money management in a subsequent time.
This transaction is ongoing. Establish a trailing stop since I have to go someplace. Stopped out while in transit at breakeven. Most likely would have closed this manually ching 10-15 pips. Oh well. There's plenty of opportunities ahead.
I just wish to talk to some thing I noticed in myself some time back that limited my success when short term trading. That's the if only situation. Going back and looking at a graph and saying man if only I had kept my position I might have made 50 pips or whatever that value is. The reason this line of thinking was harmful for me personally was it made me question my exits and sit trades which were moving against me because I wanted to hit the triple, the homerun, or even better. . .the grand slam. When I should have been pleased with one. When short term trading a lot of singles results in more RBI's than the triples and beyond.
Do you believe Tony Gwynn was mad with one or wished he had shut his eyes and swung for the fence? I believe not. He made it into the Baseball Hall of Fame in the first chance because he was a high percentage, always successful hitter. So make certain to lock in profit. Who cares if it's just 5 pips (true you will not have folks here oncliqforexthinking you are a trading ace and providing you alms). These 5 pips for a single trader might be worth much more than 100 pips for a second. Fantastic Trading!